Kraken has launched trading in more than 7,000 U.S.-listed stocks for eligible customers across the European Economic Area, expanding its platform beyond digital assets. The service gives EEA users access to U.S. equities through Kraken Pro, the Kraken mobile app, and web platforms.

The launch adds traditional shares to a platform that already offers crypto assets and tokenized stocks. Kraken said eligible customers can now manage multiple asset types from a single account without moving funds between separate providers.

The expansion broadens Kraken’s product range by combining regulated securities trading with its crypto asset services, and extends a push that saw the exchange begin rolling out stock and ETF trading for U.S. customers earlier in 2025.

Kraken Adds U.S. Stocks Under MiFID II Rules

The stock service operates through Payward Europe Digital Solutions (CY) Limited, Kraken’s Cyprus-based entity. The company holds authorization as a MiFID investment firm and operates under the supervision of the Cyprus Securities and Exchange Commission.

MiFID II, the European Union’s Markets in Financial Instruments Directive, sets the licensing, transparency, and conduct rules that firms must meet to offer investment services in the bloc. That authorization also covers the tokenized side of the platform: under the EU’s MiCA crypto regulation, crypto-assets that qualify as MiFID financial instruments remain governed by securities law, so tokenized equities sit on the securities side of the regulatory line rather than under MiCA.

Eligible customers can trade more than 7,000 U.S.-listed stocks through Kraken Pro and the Kraken mobile app. The company said the service offers commission-free access to qualifying users within its regulated European framework.

Kraken’s platform also supports more than 600 crypto assets and over 700 xStocks. These xStocks are tokenized versions of U.S.-listed shares, and Kraken said each one is fully collateralized and backed 1:1 by the underlying equity.

Kraken now places traditional stocks and tokenized versions of selected assets within the same trading environment. Customers can choose between standard shares, tokenized products, or both, depending on their preferred trading format.

xStocks Expand Trading Options

European investors often use different providers for U.S. equities, crypto, and tokenized products. Kraken said it aims to reduce that separation by giving eligible EEA customers access to these markets through one account.

Mark Greenberg, Chief Commercial Officer of Payward and Head of Payward Services, said the launch removes the divide between traditional and tokenized formats. He said customers can access similar underlying exposure without changing platforms or transferring capital.

xStocks allow users to access equity exposure through blockchain-based products. Unlike standard shares, tokenized equities can move to self-custody wallets and connect with onchain applications, while remaining backed by underlying shares.

Kraken is not the only firm working that seam. Robinhood began offering tokenized U.S. shares to EU customers in 2025, and major asset managers including BlackRock have issued tokenized funds, part of a broader institutional move into real-world assets on public blockchains.

Kraken said xStocks have passed $38 billion in total transaction volume since launch, a figure that now serves as a baseline for tracking demand as both formats become available side by side in a single account. The company said the combined offering is intended to serve both crypto-focused customers seeking U.S. stocks and traditional investors interested in tokenized market access.